$ 6 billionSUBJECT: $6 Billion Gold Fraud
below are some exerpts from this link
https://en.wikipedia.org/wiki/Bre-X#cite_note-1 Bre-X was a group of companies in
Canada. A major part of the group,
Bre-X Minerals Ltd. based in
Calgary, was involved in a major
gold mining scandal when it reported it was sitting on an enormous
gold deposit at
Busang,
Indonesia (in
Borneo). Bre-X bought the Busang site in March 1993 and in October 1995 announced significant amounts of gold had been discovered, sending its stock price soaring. Originally a
penny stock, its stock price reached a peak at
CAD $286.50 (split adjusted) in May 1996 on the
Toronto Stock Exchange (TSE), with a total capitalization of over CAD $6 billion. Bre-X Minerals collapsed in 1997 after the gold samples were found to be a fraud.
The Bre-X mining fraud convinced Canadians to regulate professional geology in Canada.
[15] National Instrument 43-101 was created in the wake of this fraud to protect investors from unsubstantiated mineral project disclosures
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Mineral Resources and Mineral Reserves……refer note at bottom of RMO bullboard dated Dec 4/16
“Eventual cores from the 2017 drill program could lead to an NI 43-101 resource report….& if we are fortunate a
Reserve Report.” Read more at
https://www.stockhouse.com/companies/bullboard?symbol=v.rmo&postid=25550148#q6oEE6aDlYLLm6Kq.99 (Stockhouse added this link)
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For the Bre-x story….. in 30 pictures
https://www.businessinsider.com/bre-x-6-billion-gold-fraud-indonesia-2012-7/ ……………………………………………………
The Busang discovery made the Bre-X team rock stars in the mining world. In early March of 1997, de Guzman made a presentation to analysts and industry execs at the annual Prospectors and Developers Association convention at Toronto's posh Royal York Hotel. He was, by now, a multi-millionaire thanks to the surging value of his stock options, and this convention cemented his celebrity status
Within days, de Guzman was dead. Or so we were told.
https://www.thecanadianencyclopedia.ca/en/article/bre-x-geologist-mike-de-guzman-rumoured-to-be-alive/ ---------------------------------------------
These three national instrument 43-101 reports are generated in the following sequence
(1)Mineral resources
(2)(pre) feasabity studies
(3)Mineral reserves
With reports 2&3 we would finally be in a position to know whether the ore body could be mined and
AT A PROFIT